Note (Back to main text) — SELLING AT AUCTION By John Anderson, Jr.

It is to be presumed that the auctioneering of books began at the time when it first became apparent to the owners of libraries that a necessity existed for the establishment of a system by which they could reach the largest number of buyers, and bring about the quickest sales and returns, for these are, admittedly, the distinguishing features of the auction method, as opposed to all others.[4] Selling to the highest bidder proved the happy solution of the problem, and to this day it has been universally recognized as the most satisfactory method of dispersion. To quote a book as having sold for so much at auction gives it in the minds of all true bookmen the best possible criterion of value. The prices obtained, though variable, represent a consensus of opinion, and may be considered as standards.